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<br />families. The rich job base in Mounds View contributes to its potential attractiveness to <br />this demographic. Gen Y wants to be part of the action. Density, walkability and access <br />to services are key desires of this group. In addition, Gen Yers are looking for “work/life” <br />balance and interesting places. Public investments in creating such places will provide a <br />higher return on investment. <br />· Gen Yers will sacrifice lot size as a trade off for walkability and social interaction. <br />Mounds View has both small lot and larger lot neighborhoods. The existing smaller <br />housing lots have traditionally been viewed as providing less desirable housing choices. <br />In our view, however, these neighborhoods may be highly desired by younger <br />homebuyers who are looking for a sense of place in a less drivable setting. When <br />combined with Mounds View’s employment opportunities and great schools, the City <br />should consider these neighborhoods to be a significant asset. Mounds View’s relatively <br />low percentage of residents who are employed in jobs in the City indicates a tremendous <br />potential to capture new residents. <br />· The Great Recession has decimated the development community. Qualified developers <br />who remain in business are selective about the communities in which they work and are <br />looking for predictability in the development process and flexibility during times of <br />scarce resources. Cities which embrace collaborative approaches to solving problems, <br />identify and pursue partnerships, manage development risks, improve decision making <br />skills and develop clear expectations will rise to the top during difficult economic times. <br />· Difficulties with accessing private capital have increased the complexity of development <br />deals. It will be critical that the City’s response to private development and <br />redevelopment remains collaborative while reasonable risks are embraced to achieve <br />community goals. A “risk position” on the part of the City is not necessarily a bad thing <br />as long as the City evaluates its risk tolerance and plans accordingly. <br />· Panelists mentioned a number of cities which have pursued more aggressive strategies to <br />attract great (re)developments. Even cities which are viewed as having a market and <br />locational advantages have become more involved as development partners and <br />facilitators. In determining the calculus for City involvement, the panelists urged a total <br />cost approach which recognizes that developer financial exposure goes well beyond the <br />cost of the land. <br />· County Road 10 can provide a great gateway to the community and, as the mayor said, it <br />should offer an opportunity to unite rather than divide the City. It could be a welcoming <br />corridor, but looks too much like an abandoned highway in an oversized right of way. We <br />commend the City’s efforts to work with the County to seek a solution. Renaming the <br />corridor to Northtown Boulevard is certainly a step in the right direction. Development of <br />the adjoining trail system and more aggressively pursuing options for redevelopment now <br />provides a great asset for uniting this corridor. Maintaining commercial properties and <br />taking steps to remove blight is an important consideration in encouraging residential <br />reinvestment.